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Having entered last year freshly unshackled from the largest municipal bankruptcy case in American history, Detroit is starting 2016 on a similarly encouraging note: violent crime is down, unemployment rates…

BABC Navigating Brexit Guide

World Watch: Michigan Companies doing Business in the United Kingdom

With a nominal 2015 GDP of $2.8 trillion, the United Kingdom is the 10th largest economy in the world as well as the third largest economy in Europe, according to the CIA World Factbook. The country has a large supply of natural gas, coal and oil resources but has also been a net importer of energy in the past decade. In light of the recent "Brexit" vote, the following data on imports and exports is likely to change.

Detroit City of Design

Having entered last year freshly unshackled from the largest municipal bankruptcy case in American history, Detroit is starting 2016 on a similarly encouraging note: violent crime is down, unemployment rates are at a 15-year low and a local woman closed out the year by winning a record-breaking $2 million jackpot playing the slots at Greektown Casino. At the end of 2015, the city also joined UNESCO’s Creative Cities Network as the first-ever City of Design in the United States.

Brexit Report from BAB

BRITISHAMERICAN BUSINESS ON UK REFERENDUM OUTCOME

London, June 24th, 2016

The British people have spoken. The vote for Britain to leave the European Union opens a new phase of uncertainty with new complexities and unknowns. Many businesses will now be concerned as to how the vote will impact their activities and ambitions in the UK, particularly in regards to access to the Single Market and Freedom of Movement. But the world as we know it has not ended, contracts will continue to be performed and the rule of law applies, allowing the vast majority of business operations to continue as planned.

The strength of the UK-US economic relationship over the long term and the many aspects of the UK's attractiveness for foreign investors all have proven that the UK can provide a business-friendly environment that serves businesses, investors and people in the UK. In any scenario the transatlantic economy will continue to be a source for opportunity.

Jeffries Briginshaw, CEO of BritishAmerican Business said:

"It is now important that the UK government steps quickly into gear to open negotiations for a new agreement with its European friends, and that it acts pragmatically and provides transparency and clarity as events unfold.

The coming months, and perhaps years, will bring uncertainty and complexity for British and American businesses invested in the UK. Ultimately, the strength of purpose, common interest and alignment, creativity and hard work of the transatlantic business community will continue to deliver the economic performance that guarantees future prosperity.

It's time to dust off, get back to work and show the world that the UK remains open for business."

During the coming period of uncertainty, we will be working with our Members to help them to stay ahead of events. We will be sharing their best insights and analysis, promoting their views and setting out what kind of agreement will best protect the interests of transatlantic businesses in the UK.

About BritishAmerican Business

BritishAmerican Business (BAB) is the leading transatlantic business organization, dedicated to helping companies build their businesses on both sides of the Atlantic. It incorporates the American Chamber of Commerce (UK) and the British-American Chamber of Commerce (USA), which merged in 2000 to create a single, pre-eminent transatlantic organization that support its members across the Atlantic.

STATEMENT BY THE PRESIDENT ON THE UK REFERENDUM

THE WHITE HOUSE

Office of the Press Secretary

FOR IMMEDIATE RELEASE

June 24, 2016

Statement by the President on the UK Referendum

The people of the United Kingdom have spoken, and we respect their decision. The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom's membership in NATO remains a vital cornerstone of U.S. foreign, security, and economic policy. So too is our relationship with the European Union, which has done so much to promote stability, stimulate economic growth, and foster the spread of democratic values and ideals across the continent and beyond. The United Kingdom and the European Union will remain indispensable partners of the United States even as they begin negotiating their ongoing relationship to ensure continued stability, security, and prosperity for Europe, Great Britain and Northern Ireland, and the world.

For more information on BAB’s work on the topic, including fact sheets on UK/US and UK/EU trade investment, visit our EU Referendum section on our website (https://www.babinc.org/eu-refere

Fifth Meeting of the U.S.-U.K. Trade & Investment Working Group

Washington, D.C. – The United States and the United Kingdom held the fifth meeting of the U.S.-UK Trade and Investment Working Group November 2nd through November 7th, and the third meeting of the U.S.-UK Small and Medium-sized Enterprises (SME) Dialogue on November 1st.

The Working Group, established in July 2017 by United States Trade Representative Robert Lighthizer and UK Secretary of State for International Trade and President of the Board of Trade Dr. Liam Fox MP, has been focusing on providing commercial continuity for U.S. and UK businesses, workers, and consumers as the UK leaves the EU and exploring ways to strengthen trade and investment ties both now and in the future, including through a free trade agreement.